When U.S. President Donald Trump rejected Iran’s latest peace proposal over the weekend, calling it “totally unacceptable,” oil markets and the U.S. dollar didn’t just shrug. The Strait of Hormuz, the narrow waterway through which roughly 20% of the world’s traded oil flows, had been at the center of tense negotiations in the past week. That rejection slammed the…
Reuters is noting that the Indian central bank is likely intervening in the FX market to limit the rupee’s drop today, citing three traders on the matter. USD/INR continues to scale higher to start the week, as a renewed jump in oil prices is weighing heavily on the rupee amid a worsening economic outlook for India. After a brief…
The USD/CHF pair holds opening gains around 0.7785 during the Asian trading session on Monday. The Swiss Franc pair reflects strength as the US Dollar (USD) outperforms its peers amid the return of the risk-off impulse due to diminished hopes of an immediate breakthrough in negotiations between the United States (US) and Iran. US Dollar Price Today The table…
Japan’s petrol subsidies are draining funds at 300bn yen a month while yen intervention nears IMF limits, putting Tokyo’s fiscal and currency strategy on a collision course, Reuters Breakingviews argues. Summary: A Reuters column by Hudson Lockett argues that Japanese Prime Minister Sanae Takaichi faces a fundamental contradiction between her energy subsidy programme and her government’s efforts to defend…
On Monday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8467 compared to Friday’s fix of 6.8502 and 6.7988 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central…
The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade within a prescribed band…
China’s CPI, PPI Overview The National Bureau of Statistics of China (NBS) will publish its data for April at 01.30 GMT. The Consumer Price Index (CPI) is expected to show an increase of 0.8% YoY in April, compared to 1.0% in March. The Producer Price Index (PPI) is projected to show a rise of 1.5% in March versus an…
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Earlier: Iran said to table broad demands covering sanctions, war and security The prez says no: Trump says Iran’s proposals are “TOTALLY UNACCEPTABLE” The USD is a touch higher in really early trade. This article was written by Eamonn Sheridan at investinglive.com.
